Why Pay So Much for College?

Kaori Jinsenji

So Eric, I still remember the first time I visited a university campus in California—you know, all the palm trees, skateboarders… it was so different from Japan. But honestly, what blew me away was overhearing students chatting about their college loans. Some of them talked about debt bigger than most Japanese mortgages, and they said it so casually! I just stood there, kind of stunned.

Eric Marquette

Yeah, it’s wild, isn’t it? If you look at the stats from the National Center for Education Statistics, the average annual tuition at a private university in the US is over $39,000 now. And that’s just tuition—if you factor in living expenses, books, all of that, the numbers are… well, eye-watering.

Kaori Jinsenji

Totally. The historical perspective is fascinating, too. My dad always said, back in his time, going to university in Japan meant, “OK, this is a clear, affordable step toward a stable future.” But in America… the price tag has grown so fast, way beyond inflation. Why do you think people keep paying?

Eric Marquette

I think a lot of it comes down to this idea that college is always “an investment in yourself.” But I’m not convinced that’s universally true. If you look at, say, arts or design or, you know, makeup artistry—the debt students rack up doesn’t always line up with what they’ll earn once they graduate. Actually—Kaori, I always forget—what’s the average starting salary for arts majors in the US? I think it’s well under $40,000, but I could be off…

Kaori Jinsenji

No, you’re right, it’s around there—it varies, but definitely much lower than, say, engineering or computer science. And yet, the tuition cost is the same! It makes me wonder, is it really about “investing in yourself”? Or is it more like, investing in an expensive lottery ticket?

Eric Marquette

Yeah—sometimes it feels more like a gamble than a guaranteed return. And that pressure to just “go to college no matter what”… it’s intense. Which, I guess, brings us right into our next point: is everyone really making this choice for themselves?

Eric Marquette

Funny you mention that—one of my American friends told me, pretty much everyone in his high school treated college like something you just had to do. “Not going,” he said, “wasn’t even on the table.” It honestly wasn’t even about what you wanted to study, let alone future earning potential. It was just… this big rite of passage.

Kaori Jinsenji

Right, and I think there’s such strong cultural and peer pressure fueling that. There are these surveys—Pew and others—that show the majority of American parents still expect their kids to go to a four-year college, regardless of the sticker price. Social expectation is everything.

Eric Marquette

Exactly. Whereas, if you look at Japan, there’s a lot more nuance. Vocational schools, apprenticeships, and, well, the national universities are heavily subsidized. And if you look at Germany, it’s almost the opposite—vocational tracks are normal, and public universities are low-cost or even free to attend. There’s not this sense of shame or, you know, “you missed out if you don’t go.”

Kaori Jinsenji

Even Australia, with their public funding and national loan scheme—it actually caps how much you can borrow, and your repayments are tied to your income. The pressure isn’t baked in like it is in America. It’s kind of freeing, actually.

Eric Marquette

Yeah—so, if everyone’s just following the crowd in the US, what does that mean for the value of a degree? Especially if everyone has one? Let’s talk about where “prestige” fits in these days.

Eric Marquette

Have you noticed all the headlines lately about how the value of Ivy League degrees might be slipping? Forbes, Wall Street Journal, NPR—they’re all talking about how employers are starting to care less about where you went and more about what you can do.

Kaori Jinsenji

Oh, yes! And it’s not just media buzz. I actually met this amazing designer in Kyoto—he runs a successful studio, did work for high-end brands, the whole thing—and get this: he never went to university. He started out as an intern, learned everything on the job, and built his reputation based on his work, not credentials.

Eric Marquette

It’s happening more and more, isn’t it? Makes you wonder: if “prestige” doesn’t land you a job automatically anymore, what’s the point of going into six figures of debt? Like, if the network and the piece of paper don’t guarantee much, what actually matters now?

Kaori Jinsenji

Maybe it’s the portfolio, or your practical skills—or just being adaptable. But, you know, prestige still carries weight in some circles. It’s tricky. In Japan, people still respect the old university names, but it’s not the only path anymore. I wonder if American students are starting to feel a similar shift?

Eric Marquette

I think so, especially as more employers realize that skills, attitude, and adaptability often trump old-school prestige. So, let’s dig into some of those new pathways people are taking—ones that skip the whole “big diploma” route entirely.

Eric Marquette

Alright, so—coding bootcamps, online certificates, vocational programs… they’re popping up everywhere in the US now. And some of them actually have better job placement stats than traditional degrees, believe it or not.

Kaori Jinsenji

Exactly. I love how some tech companies, for example, don’t care at all whether you have a bachelor’s degree. They want to see your portfolio, maybe a GitHub account if you’re a developer, or proof that you can solve real-world problems. Even in creative fields—startups often hire based on what you’ve made, not what’s on your diploma.

Eric Marquette

And it’s not just tech. I read about people going into trades—electricians, dental hygienists, that sort of thing—coming out of two-year vocational programs with barely any debt and landing jobs right away. These are solid, stable careers. It’s, er, practical, you know?

Kaori Jinsenji

Practical, and often overlooked. For prospective students, the best advice might be… do your homework. Research what credentials matter in your field—sometimes it’s an apprenticeship, sometimes it’s a certification or even just hands-on experience. Maybe that means looking for internships or job shadowing early on, before you commit to a huge college tuition fee. That’s all for today! Thank you Eric always for your company!